The President of Ecuador, Daniel Noboa, sent a bill to the National Assembly proposing an increase in the Value Added Tax (VAT) by three percentage points. He has called it an organic law to confront the internal armed conflict and the social and economic crisis and calls for an increase in VAT from 12 to 15 per cent.

Cambodia exported approximately 290,000 tonnes of fresh bananas in 2023, marking a decline of over 21% year-on-year, as the Ministry of Agriculture, Forestry and Fisheries reported. Hun Lak, CEO of Longmate Agriculture Co Ltd, explained that the drop in exports in 2023 was not due to reduced market demand but somewhat attributable to climate change, noting that his company's banana exports to China had diminished due to lower yields harvested in 2023 compared to the year prior.

India is making significant strides in developing efficient sea routes to export fresh fruits, particularly bananas, with an ambitious goal of reaching one billion dollars in exports to Europe. This stark contrast highlights the importance of strategic planning and infrastructure development in maximizing the potential of agricultural exports. The Asian nation is actively investing in the development of sea routes and logistics to boost its fresh produce exports, particularly focusing on bananas.

The Department of Agriculture is seeking preferential tariff rate for Philippine banana exports to Japan. Manila looks to review the Japan-Philippines Economic Partnership Agreement as an initial opportunity to discuss the Philippine appeal. The agency has scheduled the first meeting of the Philippines-Japan Joint Committee on Agriculture in the second quarter of this year.

The government of Belize hopes to revive the once-vibrant banana industries. According to the Statistical Institute of Belize, production has declined in recent years. However, in November last year, earnings from bananas were valued at $5.6 million, a rise from $4.6 million in 2022. The industry has historically been a significant foreign income earner for the country, but exports of bananas and citrus have sharply declined. Minister of Agriculture Jose Mai says that while work is being done to tackle the industries' challenges, it will take some time for them to rebound.

“Every district in Kerala has its favourite banana,” said Nishanth K, a 49-year-old banana farmer, from Kerala’s Wayanad district, who has over 250 varieties of bananas on his farm. “Wayanad and Kannur like mannan (a type of banana). Chenkadali (red banana of Cavendish variety) is very popular and culturally significant in Thiruvananthapuram and is sold there for a handsome Rs 80 a bunch, whereas in Wayanad, it fetches only one-fourth the price.

In order to provide a direct outlet to the producers of the Tembiaporã district, the department of Caaguazú, the head of the Ministry of Public Works and Communications, Claudia Centurión, announced the asphalt paving of 40 kilometres within the framework of the realization of the Banana Route, a long-awaited work.

Banana selling prices in St. Petersburg were USD 22.25-26.00 per box CIF, depending on brand, volume, quality, and packing. Nearly 2.14 million boxes were discharged in week 2, and around 880.000 boxes are expected for week 3. Very low temperatures hindered discharge operations in St. Petersburg. The exchange rate was 1 USD=88.78 RUB. Selling prices in the Mediterranean for Ecuadorian bananas were USD 19.00-20.00 per box CIF according to brand, volume, and region. Bananas of Central American or Colombian origin were sold at around USD 2.00 less per box. Prices in the Mersin Zone for the re-exported bananas of Ecuadorian origin were USD 18.00-22.50 per box, depending on brand, quality, and weight. Other origins sold at USD 15.50-17.50 per box.

Since January 1, the Spanish authorities have required a responsible declaration signed by the manufacturer on the amount of non-recycled plastic in the packaging of products imported by the country of origin, which must be certified. This measure is not whimsical but is part of one of the first actions being taken by the member countries of the European Union (EU) within the framework of the Green Deal. The European Commission has adopted a set of proposals to align EU policies on climate, energy, transport and taxation to reduce net greenhouse gas emissions by at least 55% by 2030, compared to 1990. That's what's known as the Green Deal.

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries.

The President of the Association of National Banana Producers (Aprobana), Héctor Castro, lamented that the cultivated areas have decreased by 60% because of the tropical storms and other problems the sector faces. Banana exports are the country's second-largest foreign exchange source, surpassed only by coffee. The floods caused by Eta and Iota left substantial consequences on banana plantations, which have caused a considerable decrease in banana exports.

According to Ecuador's Minister of Agriculture, Danilo Palacios, in an interview, only 54% of the volumes of exportable fruit would have been signed between banana producers and exporters. The Minister, in a broadcast on a local television channel, called on producers to sign contracts with exporters. The signing of contracts is the only legal figure stipulated by the Banana Law for the fruit to be exported to foreign markets. In 2023, according to figures from the Banana Marketing and Export Association of Ecuador (Acorbanec), only 40% of the fruit was contracted.

Sopisco News is the leading source of reliable premium news, no other newsletter covers the banana market like Sopisco News the information leader in the banana shipping and cool logistics industries. Complete information is available only to our subscribers. FOR SUBSCRIPTIONS AND ADVERTISEMENT PLEASE CONTACT admin@novamedia.ws

At the beginning of 2024, for the second consecutive year, banana exports from the Dominican Republic, which is exporting less than 200 containers per week, have worsened, a decrease of more than 50 per cent." This information was revealed by the Banamiel group of the Northwest Line in a letter to its shareholders about the tragic drop in banana production, which has been worsening since mid-2023, caused by the unexpected impact of the mite and climatic adversities.

Paraguay has already received a response from the Chilean Agricultural and Livestock Service (SAG) regarding the verification carried out last December on the processes of production, packaging, sampling, analysis and shipment of Paraguayan bananas to enable its market. According to the National Service of Plant and Seed Quality and Health (Senave), the process of achieving the entry of local products into the trans-Andean country is advancing.